US-based cryptocurrency exchange Coinbase has made a significant move by reopening XRP trading for New York users despite the ongoing legal dispute between the decentralized platform Ripple and the US Securities and Exchange Commission (SEC). This decision marks a bold step for Coinbase, which had previously suspended XRP trading following the SEC’s lawsuit against Ripple. […]
Crypto trader and analyst Unipcs (Bonk Guy) has reiterated his bullish prediction for Dogwifhat (WIF). He made this statement while revealing the sums lost by short traders thanks to their bearish sentiment around the meme coin. Dogwifhat Headed To $10 Unipcs mentioned in an X (formerly Twitter) post that Dogwifhat is “headed to $10” and will never drop to as low as $1 again. He added that the market is currently in a meme coin supercycle, which is why he believes the meme coin can attain such heights. The crypto trader also highlighted how WIF shorts were “getting squeezed hard” and said this is the “way it should be.” Related Reading: Standard Chartered Analyst Says Bitcoin Is Set For A New ATH Above $73,700, You Won’t Believe The Timeline Besides Dogwifhat, Unipcs generally has a bullish outlook towards meme coins. He earned a reputation for longing Bonk, another Solana-based meme coin, with $16,000 in October 2023 and still holding as at the last time he shared an update on the trade. Based on his update, his unrealized profit has risen to as high as $13.7 million at some point. Unipcs’s bullishness on meme coins is also not surprising, considering this category of crypto tokens is projected as one of the leading narratives in this bull run. It is also worth noting that meme coins Dogwifhat and Pepe (PEPE) are currently this year’s best-performing crypto assets among the top 50 coins by market cap, with year-to-date (YTD) gains of over 1,800% and 1,000%, respectively. Unipcs isn’t the only one who believes that WIF could rise to $10. Another crypto trader known as ‘Free’ has also reaffirmed on different occasions that the meme coin will still rise to that price level. Meanwhile, crypto analyst Bluntz Capital is also ultra-bullish on Dogwifhat, as he once suggested that the meme coin will flip PEPE and Shiba Inu (SHIB) to become the second-largest meme coin by market cap, only behind Dogecoin (DOGE). This Crypto Analyst Has Other Expectations Crypto analyst CrediBULL Crypto recently revealed his bearish expectations for meme coins, including WIF. He foresees a “meme wipeout,” which could be worse than he initially thought. He added that this occurrence would “catch a ton of people off guard.” He claimed he would become a meme coin bull when the time is right, but now is not the right time. Related Reading: Shiba Inu Price Can’t Reach $0.01, Crypto Pundit Reveals Why In a recent video posted on his YouTube channel, CrediBULL Crypto also analyzed Dogwifhat. He noted that WIF had significantly moved to the upside, as he rightly predicted in an earlier market update. Back then, he mentioned that he was expecting the meme coin to rise to $3.8 before it dropped to as low as $1.6. However, in his recent video, he revealed that he won’t be shorting Dogwifhat even when it reaches $3.8. Instead, he will wait for the meme coin to claim the untapped highs at the $4 range to validate his bearish expectations. At the time of writing, Dogwifhat is trading at around $3, up over 6% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Bulb.io, chart from Tradingview.com
While many in the industry cheered the passing of the Financial Innovation and Technology for the 21st Century Act yesterday, many other raised criticisms and concerns.
Both former television hosts, Binance’s Yi He and Bitget’s Gracy Chen, currently lead the world’s largest crypto exchanges by volume.
Legal intricacies regarding arbitration were at the core of the dispute, which will likely have little impact on crypto as a whole.
After weeks of climbing and acclimating to the altitude, Dadvan Yousuf removed the Bitcoin flag from his bag to show it off at the top of the world.
According to a recent Bernstein report, the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) in the US may establish a precedent for classifying Solana (SOL) as a commodity. The classification of cryptocurrencies as either securities or commodities holds significant implications. Commodity classification facilitates ETF applications and approvals, while security classification subjects assets to […]
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Ethereum (ETH) price is soaring ahead of the Securities and Exchange Commission (SEC) decision regarding the Spot ETH ETF (exchange-traded fund). Investors’ and market watchers’ optimism has increased as the ‘King of altcoins’ surpasses the $3,900 mark. Some analysts believe this bullish momentum could soon propel ETH’s price above all established price targets. Related Reading: Ethereum Whales Come Alive: Are They Buying Or Selling? Ethereum Soars Amid ETF Approval Expectation Ethereum, the second-largest cryptocurrency by market capitalization, has seen a significant uptick this week. As rumors of ETH spot ETFs being approved this Wednesday surged, the community’s sentiment towards the asset turned extremely bullish. Previously, Bloomberg experts had asserted that chances of an ETF approval were slim due to the US government’s crackdown on the industry. However, this week’s U-turn from the Biden administration sparked a positive sentiment that increased the chances to 65-75%. As a result, Ethereum surged an impressive 30.4% from its price seven days ago. The King of altcoins went from trading just below the $3,000 mark to surpassing the $3,900 resistance level at the time of writing. The community’s optimistic expectations continue as several US lawmakers urge SEC chair Gary Gensler to approve Ethereum ETFs. As reported by Eric Balchunas, a bipartisan group of House lawmakers sent a letter on Tuesday to the SEC’s Chair asking for the approval of ETH ETFs “and other digital assets.” According to the letter, the Congress members believe digital asset-backed ETFs offer “investors a regulated and transparent investment vehicle to gain exposure.” The US lawmakers urged the Commission to “maintain a consistent and equitable approach when reviewing upcoming applications” for other crypto ETFs. Are Price Targets Too Low? Ethereum has performed remarkablely over the past few days. ETH has surged 5.6% as the community awaits the SEC’s decision. As pointed out by several market watchers, ETH’s weekly candle is resting levels not seen since the first half of March. Crypto Yoddha highlighted Ethereum’s historic behavior for the previous all-time high (ATH) runs. Per the chart, the second-largest crypto asset went through a 700-day accumulation phase before breaking out and starting the bullish run. Similarly, ETH seemingly ended a 700-day accumulation period this cycle, which could lead to a rally towards a new ATH, if history repeats. The analyst set a target of $15,300 for this cycle. Likewise, Crypto Jelle pointed out that ETH broke out of a multi-month falling wedge pattern. Its recent performance successfully reclaimed the key resistance above the $3,600 mark and is currently testing the $3,900 price range. The trader considers that, if this is the current performance before the approval of ETH ETFs, his $10,000 target for this cycle might be “too low.” However, he urged investors to “try not to get sucked into overtrading.” He considers the initial response to the decision “hard to know” despite the bullish sentiment. Ultimately, Jelle suggests the community to “focus on what you know” as the long-term outlook is much clearer. Related Reading: Altcoins ‘Maniac Phase’ Preparing, Analysts Call For Next Leg Up On a similar note, Crypto analyst Mikybull points out that ETH is repeating the 2020 path that “sparked off Alts season in 2021.” Due to this, the trader considers that the bull targets for this cycle are $9,000-$11,000. The SEC’s decision regarding ETH ETFs will be announced around 8:30 pm UTC on May 23. Featured Image from Unsplash.com, Chart from TradingView.com
On-chain data shows that the Ethereum exchange net flows have been highly positive recently, a sign that selling may be taking place in the market. Ethereum Exchange Netflows Have Seen A Spike Recently In a new post on X, CryptoQuant head of research Julio Moreno discussed the latest trend in Ethereum’s exchange netflow. The “exchange […]
Betting markets are currently showing a 72% chance of a spot Ether ETF approval in the United States.
House passes bill to block Federal Reserve from issuing a CBDC, citing privacy and Fourth Amendment concerns.
The post House of Representatives halts Fed’s CBDC plans with new legislation appeared first on Crypto Briefing.
FIT21's passage in the House could enshrine crypto language in securities laws, including the concept of decentralization.
Paul Grewal, Coinbase’s chief legal officer, announced that New York users of the exchange can once again trade XRP.
Support for the legislation fell along partisan lines, with less Democrat support than other crypto bills this month.
Quick Take Bitcoin has shown a positive trend since its halving on April 20, with an increase of approximately 8%. It traded around $64,000 and is now consolidating just below $70,000. This performance positions Bitcoin as one of the best-performing cycles since the start of a halving event, second only to Epoch 2, which experienced […]
The post Bitcoin’s second best start to a halving cycle appeared first on CryptoSlate.
Emerging from past challenges, this initiative emphasizes decentralized governance and advanced consensus mechanisms to foster innovation.
We need airdrops and KOL campaigns that, instead of creating empty buzz and boosting vanity metrics, convert real committed users, build brand relationships, and bring large rewards to engaged communities, says Filip Wielanier, co-founder of Cookie3, a Web3 marketing platform.
The U.S. Supreme Court ruled against Coinbase Inc. (COIN) in its dispute over which legal agreement should hold sway when parties are under two distinct contracts and the first of them calls for arbitration, finding the company's case was "unpersuasive" and that the courts need to work those questions out when they arise.
Shibarium, the Ethereum Layer 2 network developed by the Shiba Inu team, has seen some remarkable growth since it launched in 2023. With the continuous usage, the network is on its way to reaching a new major milestone amid a notable 50% in its daily transactions. Shibarium Almost At 420 Million Transactions According to data […]
Data from a Bitcoin pricing model based on an on-chain indicator suggests that $77,600 may be the level where the asset will see its next peak. Bitcoin MVRV Pricing Bands Could Provide Hints About What’s Next In a new post on X, analyst Ali discussed what the Market Value to Realized Value (MVRV) Pricing Bands model could suggest about the cryptocurrency’s future. The MVRV ratio is a popular on-chain indicator that compares the Bitcoin market cap and realized cap. The former is just the total valuation of the asset at the current spot price, while the latter is a model that calculates the asset’s cap by assuming the “true” value of any coin in circulation is the price at which it was last transferred on the blockchain. Related Reading: Ethereum Whales Come Alive: Are They Buying Or Selling? The previous transfer of any coin on the network was likely the last time it changed hands, and thus, the price at that time would be its current cost basis. As such, the realized cap keeps track of the sum of the cost basis of every investor in the market. Therefore, the MVRV ratio tells us how the value the investors hold (the market cap) compares against the value they put in (the realized cap). Based on this indicator, the on-chain analytics firm Glassnode has developed a pricing bands model. Below is a chart showing what these pricing bands look like. The pricing bands in this model represent levels corresponding to a specific deviation from the mean for the MVRV ratio. From the chart, it’s visible that the cryptocurrency is currently above the price level, corresponding to a +0.5 standard deviation (SD) from the mean for the indicator. More specifically, the price level around $65,100 would be where the MVRV ratio would be +0.5 SD above its mean. The next major pricing band in this model is +1 SD, which currently corresponds to around $77,600. In the past, this level has been where at least local tops have been probable to form for BTC. As is visible in the graph, the rally top back in March also occurred when BTC broke this level. “Based on the MVRV Pricing Bands, if Bitcoin continues to trade above $65,125, the next local BTC top before a brief correction could be around $77,593!” notes the analyst. Related Reading: Crypto Analyst Reveals Trigger For 17% Polygon (MATIC) Rally From the current spot price of the cryptocurrency, a potential rally to a new all-time high of $77,593 would mean an increase of more than 11% for the asset. It now remains to be seen how the asset’s price will develop from here and whether it will be able to maintain above the +0.5 SD MVRV level. BTC Price Since its sharp surge earlier, Bitcoin’s bullish momentum appears to have cooled off as the asset has fallen to sideways movement around the $69,700 mark. Featured image from Kanchanara on Unsplash.com, Glassnode.com, chart from TradingView.com
The Terraform Labs co-founder was still in Montenegro as his lawyers and the courts considered requests for extradition to the U.S. and South Korea.
Ethereum crash likely caused by MEV manipulation, dropping nearly 5% in an hour. SEC decision on spot ETFs expected today.
The post Ethereum price crash attributed to MEV manipulation: Report appeared first on Crypto Briefing.
German magazine Die Aktuelle used generative AI to “interview” Michael Schumacher. His family just won its suit over the controversy.
A bipartisan group of US lawmakers advised the Securities and Exchange Commission (SEC) in a May 22 letter to approve spot Ethereum exchange-traded funds (ETFs). The letter signatories included Financial Committee Vice Chairman Rep. French Hill, House Majority Whip Tom Emmer, and Representatives Josh Gottheimer, Mike Flood, and Wiley Nickel. Ethereum ETF In the letter […]
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The post Ethereum Faces Sharp Rejection Around $4K as ETF Decision Nears: What’s Next for ETH Price? appeared first on Coinpedia Fintech News
Ethereum (ETH) saw significant price volatility recently, due to increased anticipation of spot Ethereum ETFs approval in the U.S. This positive news drove a 28% increase in ETH’s price in a week, achieving highs last seen in mid-March. Although the price briefly dipped to approximately $3,700, key indicators suggest this decline is short-lived, with expectations …
Bybit crypto exchange CEO Ben Zhou has firmly denied rumors about the exchange’s alleged insolvency circulating on social media. This week, obscure social media accounts began spreading these rumors, with one user suggesting that a bug in a proof-of-reserves graph from Arkham Intelligence might have sparked the speculation. Zhou promptly dismissed these claims, stating they […]
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NFT Collector Zeneca has round-tripped his crypto stack twice, most recently watching his $20M NFT portfolio plunge by 90%.
U.S. lawmakers argued that a potential spot Ether ETF would offer investors access to ETH in a more regulated and safe format.